Japan deal invites foreigners
Article Abstract:
Daiwa Securities Co. and Sumitomo Bank Ltd. have agreed to combine large portions of their investment-banking operations in a transaction that invites other investors to invest in their businesses. The deals revolve around Daiwa's plans to restructure itself by spinning off its departments into small, independent companies and hold them through a holding company, which will keep the Daiwa name. Sumitomo, on its part, will turn a securities-underwriting unit into a new investment banking unit to be 60%-owned by Daiwa's holding company and 40%-owned by Sumitomo. The two companies will also form a co-owned unit that will trade in security derivatives, and an asset management unit that will invest pension funds.
Comment:
Is to combine large portions of investment-banking operations with Daiwa in deal that invites investors to invest in it
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Japan laws spur market
Article Abstract:
The current draft laws in Japan, including those which are to become laws in late 1998, are being anticipated to boost the country's market for asset-backed securities, said a Financial Securities Assurance (FSA) senior executive. Richard Holzinger, FSA's managing director of the Asian-Pacific region, expects the market to clear $10 billion in 1998, from the at least $7 billion to $8 billion securities sold in 1997, with a continuous double-digit growth rates for the coming years. Holzinger also said that implementation of the new laws regarding the securities will definitely spur new development in the sector.
Comment:
Japan: Current draft laws in Japan are being anticipated to boost country's asset-backed securities market
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Japan laws may spur market
Article Abstract:
Asset-backed securities market of Japan is expected to sell at $10 billion worth of securities in 1998 compared to the $7 billion to $8 billion sold in 1997 while it is expected to continually grow due to support of new laws. The Japanese government intends to improve some laws concerning securities to further strengthen its asset-backed securities market, which has been steadily growing in recent years. Meanwhile, Financial Securities Assurance with Tokio Marine & Fire Co. wanted to take advantage of the market's promise via a joint venture.
Comment:
Japan: Asset-backed securities mkt will continue to grow as govt is expected to enact new securities laws
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Comment about this article or add new information about this topic:
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